HVAC Equipment Market by Type, Equipment Type, End-User

List of Tables

[197 Pages Report] The HVAC Equipment Market size was estimated at USD 182.86 billion in 2023 and expected to reach USD 192.04 billion in 2024, at a CAGR 5.10% to reach USD 259.07 billion by 2030.

The heating, ventilation, and air conditioning (HVAC) equipment regulates indoor temperature and air quality. These systems find application in residential, commercial, and industrial settings to facilitate thermal comfort and maintain a healthy indoor environment. Increased construction activities worldwide and stringent energy efficiency regulations imposed by governments to reduce carbon emissions result in increased demand for HVAC equipment across end-use sectors. However, high initial costs associated with installing advanced HVAC equipment may impede its adoption by the end-use industries. Moreover, the technological advancements in HVAC equipment are anticipated to increase their deployment across the residential and commercial sectors worldwide.

KEY MARKET STATISTICS
Base Year [2023]	USD 182.86 billion
Estimated Year [2024]	USD 192.04 billion
Forecast Year [2030]	USD 259.07 billion
CAGR (%)	5.10%

Regional Insights

The HVAC equipment market is evolving in the Americas owing to rapid urbanization, technological advancements, increased adoption of energy-efficient products, and rising inclination toward smart homes. In Europe, EU countries are witnessing considerable adoption of HVAC equipment owing to stringent energy regulations and growing awareness of environmental concerns. Increasing urbanization and rising temperatures necessitate advanced HVAC equipment in the Middle East and Africa region. The HVAC equipment market in the Asia-Pacific region is expected to witness robust growth owing to increasing purchasing power and technological collaborations between local manufacturers and global players to deliver improved product offerings catering to diverse customer needs. Additionally, integrating cutting-edge technologies in HVAC equipment is anticipated to boost their use by the end-use sectors globally.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the HVAC Equipment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing urbanization and industrialization across the world
- Rapid expansion of data centers globally
- Government initiatives to promote use of energy-efficient solutions

Market Restraints
- High cost of installation and maintenance of HVAC equipment

Market Opportunities
- Technological advancements in HVAC equipment
- Significant investments to increase manufacturing of HVAC solutions

Market Challenges
- Operational issues associated with use of HVAC equipment

Market Segmentation Analysis
- Type: Penetration of air conditioning systems in tropical regions
- End-User: Rapid deployment of HVAC equipment in the commercial sector

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the HVAC Equipment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the HVAC Equipment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Johnson Controls-Hitachi Launch Residential HVAC Dual Fuel Heat Pump System

Johnson Controls-Hitachi Air Conditioning introduced the Hitachi air365 Hybrid dual fuel system for HVAC equipment. This system offers a cost-effective, energy-efficient solution for year-round home comfort while reducing carbon emissions. The air365 Hybrid system comprises a Mini VRF electric heat pump and a dual fuel module that can be integrated easily with any existing gas furnace. This innovative combination ensures optimal home comfort without compromising on sustainability. [Published On: 2023-09-25]

Parts Town Continues Expansion with Launch of HVAC Parts Category

Parts Town, a distributor of OEM foodservice parts, residential appliance parts, and related products, introduced a new category for HVAC parts. This innovative addition to their extensive range of parts and accessories includes offerings from renowned manufacturers such as Carrier, Fast OEM Parts, Trane, Lennox, York, and Heatcraft. This expansion allows customers to access the fastest-growing OEM HVAC parts inventory, ensuring swift equipment repairs and optimal performance. [Published On: 2023-04-13]

Ahlstrom Launches a new High-Performance Filter Media Range for HVAC with a Longer Filter Lifetime and Lower Environmental Impact

Ahlstrom has developed an HVAC filter media portfolio at its new production facility in Turin, Italy. This portfolio offers high-quality filters with exceptional performance and reliability for various applications. Ahlstrom's products effectively protect people and equipment in enclosed spaces with a complete range of filtration materials. The product range includes options from ISO Coarse 85% to ISO ePM1 80%, available in standard and high permeability versions to cater to diverse requirements. [Published On: 2023-02-07]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the HVAC Equipment Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the HVAC Equipment Market, highlighting leading vendors and their innovative profiles. These include A. O. Smith Corporation, Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, Emerson Electric Co., Fujitsu Limited, Gree Electric Appliances Inc., Haier Group Corporation, Hitachi Air Conditioning Company, Honeywell International, Inc., Johnson Controls International PLC, Lennox International, Inc., LG Electronics, Midea Group, Mitsubishi Electric, Nortek Global HVAC LLC, Panasonic Holdings Corporation, Raytheon Technologies Corporation, Rheem Manufacturing Company by Paloma Co., Ltd., Samsung Electronics Co., Ltd., Trane Technologies Company, LLC, Vaillant Group, Whirlpool Corporation, and Wolf GmbH.

Market Segmentation & Coverage

This research report categorizes the HVAC Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Air Conditioning
- Heating
- Ventilation

Equipment Type
- Applied Equipment
  - Central AHU
  - Custom Built AHU

Chillers
- Absorption Chillers
- Air-Cooled Chillers
- Water-Cooled Chillers

Ductless Systems
Heat Pumps
- Air-Source
- Ground-Source
- Water-Source

Unitary Equipment
- AHU
- Rooftop Units

End-User
- Commercial
- Industrial
- Residential

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-43127F7278BA

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing urbanization and industrialization across the world
  - 5.1.1.2. Rapid expansion of data centers globally
  - 5.1.1.3. Government initiatives to promote use of energy-efficient solutions
- 5.1.2. Restraints
  - 5.1.2.1. High cost of installation and maintenance of HVAC equipment
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in HVAC equipment
  - 5.1.3.2. Significant investments to increase manufacturing of HVAC solutions
- 5.1.4. Challenges
  - 5.1.4.1. Operational issues associated with use of HVAC equipment
5.2. Market Segmentation Analysis
- 5.2.1. Type: Penetration of air conditioning systems in tropical regions
- 5.2.2. End-User: Rapid deployment of HVAC equipment in the commercial sector
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. HVAC Equipment Market, by Type

6.1. Introduction
6.2. Air Conditioning
6.3. Heating
6.4. Ventilation

7. HVAC Equipment Market, by Equipment Type

7.1. Introduction
7.2. Applied Equipment
7.3. Chillers
7.4. Ductless Systems
7.5. Heat Pumps
7.6. Unitary Equipment

8. HVAC Equipment Market, by End-User

8.1. Introduction
8.2. Commercial
8.3. Industrial
8.4. Residential

9. Americas HVAC Equipment Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific HVAC Equipment Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa HVAC Equipment Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Johnson Controls-Hitachi Launch Residential HVAC Dual Fuel Heat Pump System
- 12.3.2. Parts Town Continues Expansion with Launch of HVAC Parts Category
- 12.3.3. Ahlstrom Launches a new High-Performance Filter Media Range for HVAC with a Longer Filter Lifetime and Lower Environmental Impact
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio